Mahindra Lifespace Developers has received an approval for additional borrowing of a sum not exceeding Rs 500 crore in one or more tranches by way of term loans/ debentures / working capital loans for the purpose of business of the company. The board at its meeting held on December 30, 2011 has approved for the same.
Mahindra Lifespace Developers (MLDL) is the real estate and infrastructure development subsidiary of Mahindra & Mahindra (M&M). At present, M&M holds 51% of the equity share capital of MLDL. MLDL has two main lines of businesses - standalone real estate development and development of integrated business cities.
The company’s net profit after tax for the quarter under review rose by 27.49% at Rs 31.44 crore as compared to Rs 24.66 crore for the quarter ended September 30, 2010. Its income from operation has increased by 5.38% to Rs 93.77 crore for the quarter under review from Rs 88.98 crore for the similar quarter of the previous year.
| Company Name | CMP |
|---|---|
| Lodha Developers | 965.60 |
| Dilip Buildcon | 478.50 |
| DLF | 608.40 |
| Oberoi Realty | 1703.85 |
| Ahluwalia Contract(I | 847.50 |
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